There are numerous ways of giving to MCS and many are tax-efficient for donors. We are always happy to help with advice about how this is achieved. Below are some examples of tax-efficient giving. 

 

Giving in the UK

Gift Aid

Both regular and single gifts can be made to MCS in a tax-efficient way by completing a Gift Aid declaration.

Gift Aid enables MCS to claim an additional 25% from the Government for your gift at no extra cost to you. Higher-rate taxpayers can reclaim £25 on every £100 donated, while additional rate taxpayers will receive £31.25 in their annual self-assessment tax returns.

 

Monthly Gift Total Annual Gift Value to MCS Actual Cost to 40% Taxpayer Actual Cost to 45% Taxpayer
£5.00 £60.00 £75.00 £45.00 £41.25
£10.00 £120.00 £150.00 £90.00 £82.50
£20.00 £240.00 £300.00 £180.00 £165.00
£25.00 £300.00 £375.00 £225.00 £206.25
£50.00 £600.00 £750.00 £450.00 £412.50
£75.00 £900.00 £1,125.00 £675.00 £618.75
£100.00 £1,200.00 £1,500.00 £900.00 £825.00

Assuming a basic tax rate of 20%, a higher rate of 40%, and an additional rate of 45%. Following the mini-budget in September 2022, the additional rate will end in April 2023, but Gift Aid will continue as above until April 2027.

 

If you are permitting MCS to claim gift aid on your donation for the first time we will ask you to email the following statement back to us with the relevant details completed:

I, [NAME], whose address is [FULL ADDRESS AS USED WITH HMRC] confirm that:

I want to Gift Aid this donation and any donations I make in the future or have made in the past four years to Magdalen College School (Registered Charity No. 295785).

I am a UK taxpayer and understand that if I pay less Income Tax and/or Capital Gains Tax than the amount of Gift Aid claimed on all my donations in that tax year it is my responsibility to pay any difference.

I understand that Magdalen College School will reclaim 25p of tax on every £1 that I give.

Gifts of stocks and shares
Corporate matched giving
Payroll giving
Giving from the US
Giving from Europe
Leaving a legacy